Mahindra Holidays & Resorts India rose 2.87% to Rs 260.20 after the company's standalone net profit jumped 74.5% to Rs 62.78 crore on 17.9% increase in net sales to Rs 315.05 crore in Q3 December 2022 over Q3 December 2021.
Profit before tax jumped 73.5% year-on-year to Rs 84.49 crore in Q3 December 2022. EBITDA climbed 49.5% YoY to Rs 127.1 crore in Q3 FY23.Resort income at Rs 91 crore (up 30% YoY) was driven by higher occupied and member spends.
Cash position stood at Rs 1,089 crore, up by Rs 71 crore during the quarter.
Kavinder Singh, managing director and chief executive officer, Mahindra Holidays & Resorts India said, "Our strategy of scaling up room inventory at an accelerated pace, creating exceptional family vacation experiences at our resorts along with growth in high quality member additions and upgrades by existing members has helped us deliver highest ever quarterly Resort Income and Total Income. Profit margins have significantly improved vs pre-pandemic levels."
Commenting on European operations, he added, "Despite Q3 being a low holidaying season in Finland and high inflation levels along with ongoing geopolitical situation, Holiday Club Resorts has delivered improved performance in Timeshare and Spa Hotel Revenues on a year-on-year basis with higher occupancies than the local hotel industry. Winter holiday season augurs well for higher occupancies in Q4 aided by growing international and domestic travel demand."
Highlighting consolidated Q3 performance, he elaborated, "PBT has grown by 104% YoY and EBITDA by 17% YoY, excluding one-offs."
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Mahindra Holidays & Resorts India (MHRIL), India's leading company in the leisure hospitality industry, offers quality family holidays primarily through vacation ownership memberships. While Club Mahindra is the flagship brand with a 25-year membership, the other products offered by the company are - Bliss, Go Zest, Club Mahindra Fundays and Svaastha Spa. As on 31 December 2022, MHRIL has 86 resorts across India & abroad and its subsidiary, Holiday Club Resorts Oy (HCR), Finland, a leading vacation ownership company in Europe has 33 Timeshare Destinations with 9 Spa Resorts across Finland, Sweden and Spain.
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